Fantastic Investment/Development Opportunities!

19XX Titan
Asking $115k
HOT Point Breeze location!
2 story clean home in rental condition.
Easy rehab and flip for $190k

Five lots in South Philly
$179k for the package
2216 Wilder
1711 S. 20th
1538 Lambert
1400 S. 24th
2019 Oakford

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For more information on these or…
any others, please contact: 

Jim Onesti
215.440.2052 or jonesti@mccannteam.com 

4 Passyunk Square shells for sale… NOT in the MLS

Rare Opportunity!!

Four consecutive 2-3 story shells for sale in HOT Passyunk Square area…
11XX Emily street…. Permits included!1132 emily photo
Zoning permits and building permits were issued on 10/29/13 and are currently active.

The building permit is for four single family homes, two stories in height.  Interior renovations, new structure and exterior renovations are all part of the building permit scope.

The zoning permit is for a single family use, which required a variance, and partial demolition of the existing structure with the erection of a 6 foot fence.

The current structure is 33′ tall, and sits on slab with no basement.Pictures below! Resale values for 3-story homes at this location are very strong!!

Asking 149,900 each….Permits included!!
132 emily interior 1132 emily photo 132 emily interior
 

New Philly Rehab Deals!!! February 2014

Thank you to all of our clients who keep bringing us great deals!!

New rehab and new construction deals for sale:  cropped-jim-81111-030.jpg

2 lots, street to street, Northern Liberties, $212,500 each, potential resale $700,000 ea. River views,

2 car garages!

Passyunk Square, 2 story fixer upper on the North side of the neighborhood, 100k!! potential resale 325k. HOME RUN

Fishtown, 9 lots, 110k each, Build 9-New Construction homes at a great location in one of the hottest locations in Philadelphia. potential resale 475k each

For more information contact Jim Onesti, Mccann Team, BHHS Fox & Roach Realtors    jonesti@mccannteam.com

#1 Real Estate Team in Philadelphia   ~  Over 600 settled transactions in 2013!! cropped-kit1.jpg

Great Info On The 10 Year Tax Abatement Discussion!

John Westrum CEO of Westrum Development, and Kevin Gillen, an economist affiliated with the University of Pennsylvania’s Fels Institute of Government, were wondering about something pertaining to Philadelphia’s 10-year tax abatement.

 What would the net fiscal impact be of a newly constructed residential development that was built under the abatement?

The abatement gives buyers of a new residential property a 10-year break on real estate taxes.

The policy has been considered a success. But critics say it siphons revenue away from the city and school district, benefits developers and caters to the rich.

To get an answer, Westrum and Gillen analyzed Westrum’s Brewerytown Square, a development of 144 market-rate townhouses at 31st and West Thompson streets.

Westrum wouldn’t have gone forward with the project without the abatement. It was a fringe area when he started the project and one of the biggest selling points was the tax break.

When Gillen and Westrum drilled down on Brewerytown Square, they concluded that for every $1 abated, the city took in $2 in tax revenue from other sources directly related to the project. It also found that 47 percent of its new owners came from out of the city.

“So, not only did the city get back the $1 that it forewent from the abatement, but it also received an additional $1 in revenue from other sources, due to the economic activity and new residents associated with Brewerytown Square’s development,” said a report on their analysis.

The debate over the abatement is expected to continue during the upcoming budget session and this report will likely play a role.

For full study found in the link below…
For more info on the citys tax abatement program contact me today!
Jim Onesti. 215.440.2052 or jonesti@mccannteam.com
Information courtesy of
Natalie KostelniReporter- Philadelphia Business Journal

Mr. New Construction Does it Again!!

23After bird dogging and selling an amazing piece of land to one of his developers; Jim Onesti from BHHS Fox & Roach Realtors, pre-sold ALL 4 of the new homes being built there, long before completion!!

ALL sold at or very close to full price which ranged from $669,900-$689,900

23bThis amazing project was located at 547-53 N. 23rd Street, right on the corner of 23rd and Brandywine in the Art Museum Area.

These beautiful homes featured 4 stories, 2700 square feet, garage 23cparking, 2nd & 4th floor decks, 10-year tax abatements, finished basements and master carpentry throughout!!

Selling real estate and finding great deals is what we do. Both our marketing plan and our track record provide fast and proven results. If you are interested in finding out more about putting our expertise and experience to work for you, contact us TODAY!

CLICK HERE to learn more about the many developments I have SOLD OUT!

McCann Team
Berkshire Hathaway HomeServices – Fox & Roach Realtors
McCann Team – 530 Walnut Street – Suite 260 – Philadelphia PA 19106
215.627.6005 Main – 215.440.2052 Direct – jonesti@mccannteam.com

New This Week…

The median list price in Philadelphia this week is $225,000

The market action index has been trending down lately indicating demand falling along with supply. Conditions point to mildly negative trends for the market.

Phila

For a summary of this weeks activity: CLICK HERE!

For a market update report: CLICK HERE!

For more information, to sign up for weekly updates OR to find out what your home is worth, contact me today!! Jim Onesti. 215.440.2052 or jonesti@mccannteam.com

Jim Onesti & The McCann Team Bring You ANOTHER Investor Success Story!

1
Just last year we found our developer clients a phenomenal and rarely offered Northern Liberties buy! It consisted of a great piece of land located at 973-75 N 5th and 1004-12 N Orkney Streets.

Not only did we help them find and purchase the site but we also successfully guided them through the zoning and permit process. In addition to our vast development knowledge we also assisted in everything from designing to branding and marketing these homes.

2While in the process of building these seven brand new, astounding new construction homes, we were able to pre-sell six of them- months before completion!!! Our client paid just around $100k per lot and sold them for a whopping $520k to $620k each!

We love working with investors and developers and there is nothing that we don’t know about this business. This is just one of the many amazing success stories that we are able to tell!

If you would like more information about our marketing plan, our vast knowledge and experience or our proven marketing plan and track record contact me today!

3We always have lots and fixer uppers for sale in and around Center City and the surrounding areas. Many of our lots come with zoning permits and approvals.

We would love the opportunity to share your success story so contact me today!

Jim Onesti, The McCann Team Berkshire Hathaway HomeServices
215.440.2052 – jonesti@mccannteam.com